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Message to employers: Staff want more cash
By Li Xiaowei (China Daily)
Updated: 2005-09-22 06:25
High employee turnover is another striking feature of the survey.
Average turnover rates for foreign businesses across China rose from 8.3 per
cent in 2001 to 14 per cent in 2005. In Shanghai, the numbers rose from 11 per
cent last year to 14.6 per cent in 2005.
This talent crunch should be a sign for foreign organizations to develop a
talent pool before forging ahead with expansion plans, said Jean Lin, a Hewitt
consultant.
"Factors with the greatest impact on an organization's ability to succeed in
China today are employee motivation and engagement, acquisition and retention of
talent, talent management and management skills, a positive organizational
culture, and effective brand alignment," Lin said.
This lack of human resources in certain fields has been a growing concern.
Earlier this year, the British Chamber of Commerce in Shanghai held business
forums to deal specifically with talent management. In a recent white paper, the
American Chamber of Commerce said the No 1 challenge for its members was
attracting, developing, and retaining management staff.
Sales and marketing staff are hardest to retain, the survey
suggests.
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